Niva Bupa Health Insurance Company's shares debuted on the stock market on Thursday (November 14), opening at a 6 per cent premium over its issue price.
However, the shares of the company experienced a decline in midday trading, falling below its initial listing price.
Shares of Niva Bupa opened at Rs 78.50 on the BSE, a 6.1 per cent premium over its issue price of Rs 74. On the NSE, the stock started at Rs 78.14, a 5.59 per cent premium.
Although the early trading saw some excitement, with the stock climbing as high as Rs 80.94 on the BSE, a jump of 9.37 per cent from its opening price. the company’s market valuation stood at Rs 14,069.93 crore.
The company’s market valuation as of now stood at Rs 13,518.17 crore.
Shares performance during the intraday trading hours
However, the momentum did not last long. By 13:54 IST, shares of the company on the BSE were trading at Rs 75.26, down by 4.13 per cent from its high of Rs 80.94. On the NSE, the stock price stood at Rs 75.52, a drop of 3.35 per cent from its peak.
Furthermore, by 15:19 pm IST, the shares were trading at Rs 74.03, down by 5.69 per cent on BSE. Similarly, on NSE, the shares were trading at Rs 74.06, down by 5.22 per cent.
Share performance |
IPO performance
The Rs 2,200-crore issue was subscribed 1.80 times on the last day of the bidding. In addition, the company raised Rs 990 crore from anchor investors ahead of the IPO launch.
However, how the stock performs in the coming days will depend on various factors, including the company’s earnings.
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